Business News Colombia

  • BOGOTA, May 6- Colombia's state-run oil company Ecopetrol said on Monday its first quarter net profit was 2.745 trillion pesos, 5 percent higher than in 2018, helped by an increase in output, sales and greater operating efficiencies. Ecopetrol has said it will invest between $3.5 billion and $4 billion in 2019, more than its spending in 2018, as part of an...

  • May 3- Latin American stocks and currencies rallied on Friday as robust labor data from the United States calmed nerves over fears of sluggish global growth, days after the U.S. MSCI's index of Latin American stocks jumped 1 percent, with most regional indices climbing, led by Brazil's Bovespa. "The very strong U.S. labor report has provided the lift we see today...

  • SAO PAULO, May 2- Brazilian airline Azul SA has registered to participate in a bankruptcy auction for the assets of struggling carrier Avianca Brasil scheduled for next week, potentially walking back a previous decision not to participate. The auction has caused much tension among Brazil's top 3 airlines, including Azul. An initial plan would have had Azul take...

  • Federal Reserve kept interest rates steady and its Chair Jerome Powell said policymakers saw no strong reason to raise or lower rates. Powell's comments prompted interest rate markets to reduce the priced-in expectation of seeing lower U.S. borrowing costs There was nothing from the policy statement or the press conference to indicate the Fed was...

  • LAUNCESTON, Australia, May 2- Coal exporters suffered a poor April with seaborne volumes dropping from the previous month amid slack demand, but the overall picture for the industry so far this year isn't quite as gloomy as it may appear. However, it's worth noting that the Newcastle weekly price, as assessed by Argus Media, has rebounded in recent weeks, lifting...

  • LAUNCESTON, Australia, May 2- Coal exporters suffered a poor April with seaborne volumes dropping from the previous month amid slack demand, but the overall picture for the industry so far this year isn't quite as gloomy as it may appear. However, it's worth noting that the Newcastle weekly price, as assessed by Argus Media, has rebounded in recent weeks, lifting...

  • MSCI's index of Latin American stocks fell 0.7%, on the back of declines in Mexico and Brazil, whose stocks have the largest weighting on the benchmark. However, the likelihood of dollar sales signaled by Argentina's central bank on Monday, as it aims to temper volatility in the peso, continued to support the currency on Tuesday and underpin sentiment towards...

  • Mexico's peso and Brazil's real both fell over 0.3%, while Chile's peso logged its ninth day of declines in ten as prices of copper- Chile's main export, fell. Volatile oil prices took their toll on net crude exporter Colombia's currency which touched its lowest since early January. This was previously not allowed under the country's $56 billion standby...

  • Bogota- based Avianca Holdings is the larger, better-known airline and licenses its brand for free to two smaller airlines owned by the Efromovich brothers, one in Brazil and one in Argentina. The disclosures were made by Avianca Holdings in its annual report filed with the U.S. Securities Exchange Commission on Monday. Avianca Holdings and Avianca Brasil had...

  • BENGALURU, April 26- Major central banks are done tightening policy, according to a majority of economists polled by Reuters, with the growth outlook wilting across developed and emerging economies along with scant prospects for a surge in inflation. While that is largely reflected in bond markets, with major sovereign bond yields falling this year, global...

  • BOGOTA, April 27- Colombia's Trasandino oil pipeline was bombed late on Friday in western Narino province, spilling crude into a nearby stream, state-run oil company Ecopetrol SA said, the seventh time it has been attacked this year. The attack took place in Casas Frias in the municipality of Pupiales, causing oil to leak into La Pinuela water source, Ecopetrol...

  • April 26- Most Latin American currencies firmed against a weaker dollar on Friday, while Argentina's peso hit an all-time closing low at the end of a rough week due to economic and political concerns. Meanwhile, Brazil's real, which also saw a volatile week as a crucial pension reform proposal progressed through a Congressional committee, rose 0.6 percent on the...

  • BOGOTA, April 26- Colombia's central bank held its benchmark interest rate steady at 4.25 percent at its meeting on Friday, as inflationary pressure remains in check and the economy benefits from an expansionary monetary policy. The following is a Reuters translation of the statement accompanying the bank's decision:. Despite the recent satisfactory growth...

  • BOGOTA, April 26- Colombia's central bank held its benchmark interest rate steady at 4.25 percent at its meeting on Friday, as inflationary pressure remains in check and the economy benefits from an expansionary monetary policy. "Despite the recent satisfactory growth data in the United States and China, the outlook for global growth continued to moderate.

  • worries@ April 24- Brazil's currency and stocks fell on Wednesday as potential hurdles for pension reforms weighed, while other Latin American stocks tracked world equities lower. Brazil's real slipped 1.8 percent and hit a four week low, while the Bovespa stock index fell 0.9 percent on broad-based losses, giving up last session's gains.

  • April 24- Latin American stock markets broadly fell on Wednesday, with sharp losses seen among Brazil's stocks as cheer on a pension reform proposal passing a congressional hurdle wore off, while currencies in Latin America were pressured by a firm dollar. The proposal to reform Brazil's giant pension system- much awaited among investors- cleared a...

  • Brazil's pensions secretary said details of the government's pension reform proposal were still being ironed out prior to a congressional committee vote in the afternoon, with several local newspapers reporting the government had agreed to alter certain minor provisions. A report said the changes to the proposal agreed by President Jair Bolsonaro's...

  • April 22- Most Latin American stocks dipped in lackluster trade on Monday, in line with world stocks, while Brazil's real rose slightly as investors were encouraged that congress will take up a pension overhaul, while Colombia's peso rose as surging oil prices supported the crude exporter. Returning from Easter extended holidays, stocks in Mexico were little...

  • NEW YORK/ LONDON, April 15- Raw sugar prices on ICE dipped on Monday but remained firmly within their recent range, while arabica coffee edged higher after trading at 13- year lows last week. *May raw sugar settled down 0.11 cent, or 0.9 percent, at 12.66 cents per lb. *May arabica coffee settled up 1 cent, or 1.1 percent, at 91.40 cents per lb, after slumping to a 13- year low of...

  • Investors' appetite for riskier currencies got a boost after data showed China's exports rebounded in March. China purchases a lot of natural resources from Latin America, so growing Chinese exports could boost demand for local currencies, analysts said. Chile's peso gained 0.5% following rising prices of copper, the country's top export.